Cleaning up account or starting over

[Dish-Man]

through a story too long to tell here, one of our accounts (a Foundation Fund) has not been updated since June of 04. I'm wondering the best way to get it back up to date. Should I just make ONE entry with a note saying it is interest for that last 9 months, or should I make 9 separate entries to show each months interest. Also, technically, this account is in a mutual fund with the Georgia Baptist Convention, so it can have a "negative" interest amount if the value falls. We also keep track of the "principal" in the account (amount contributed) so we can't spend any of the donated money, but only spend the interest we've made on the account. Is restricted accounts a good way to do this?

[Matt]

I would definitely set up a restricted account for this, since you cannot spend any of the principal. As far as catching up on your postings, it's really up to you. It depends on how much detail you would like to see if you ask for an account activity report for that account. I would be inclined to input nine separate entries in this particular situation so that there is full disclosure.